Medical marijuana may be legal in many states, but federally, it is still illegal. This means that banks run the risk of being charged with money laundering or other crimes for working with what the federal government considers an illicit activity. This creates a precarious situation where billions of dollars of state-licensed marijuana profits are handled almost exclusively in cash. What are the laws the set up this framework? What problems does this create? What is the solution?

The U.S. Department of Justice on Wednesday urged a federal judge to dismiss a lawsuit seeking to overturn the United States’ longstanding prohibition of marijuana, the latest court battle over federal policy under President Donald Trump’s administration.

Canadian cannabis company Aphria Inc said on Thursday it was exploring strategic alternatives, including a sale, for its U.S. business, amid tightening enforcement of federal cannabis laws in the country.

Canadian cannabis stocks fell on Thursday after the U.S. government said it would resume enforcement of federal laws banning marijuana in states that had legalized pot, disrupting a seven-day rally that boosted shares to record highs.

WASHINGTON, Jan. 4, 2018 /Weed Wire/ — The Department of Justice is expected to reverse an Obama-era policy today that discouraged federal prosecutors from bringing charges against marijuana users in states where marijuana is legal.

WASHINGTON, Jan. 04, 2018 /Weed Wire/ —Attorney General Jeff Sessions has rescinded the Department of Justice policy that directed federal law enforcement not to target individuals or businesses that are in compliance with state law.

Rep. Matt Gaetz has been in Congress for less than a year, but the Florida Congressman has already become one of the House’s foremost leaders working to reform federal marijuana policies. Just one problem: GOP leadership doesn’t seem especially interested in giving the issue a fair shake.

Canada’s TMX Group Ltd (X.TO), operator of the Toronto Stock Exchange, said on Monday that it might delist stocks of marijuana companies with interests in the United States, where their operations are illegal under federal law.

Medical marijuana is legal now in 29 states and Washington D.C., but there is still a lot of confusion around the medicine, especially regarding the medical marijuana prescription. Marijuana treats a number of illnesses and pain, but in order to treat and access medical marijuana, patients are required to have a medical marijuana card.

In his temporary budget-dealing with Democrats, President Trump has agreed to continue a ban on using federal funds to interfere in states’ legal cannabis practices, but as 2018 nears, a government stance is largely still up in the air.

U.S. Attorney General Jeff Sessions on Wednesday criticized the legalization of marijuana in multiple states and warned that the federal law banning use and sale of the drug “remains in effect,” remarks that could stoke fears of a federal crackdown.

High-level staff at outdoor recreational outfitter REI have internally discussed entering the marijuana industry, but amid ongoing uncertainty on the federal level, the company is not seriously considering such a move.

In a Facebook live address, Cory Booker introduced legislation that would legalize pot at the federal level citing that current drug laws “are badly broken” and disproportionately hurt minority communities.

Medical marijuana may be legal in Ohio and 28 other states, but the plant’s presence on the federal government’s list of most dangerous drugs has created numerous legal problems for doctors, researchers, businesses and patients.

SAN FRANCISCO, April 19, 2017 /Weed Wire/ — The California Supreme Court Committee on Judicial Ethics Opinions (CJEO) has adopted a formal opinion advising judges that maintaining any interest in an enterprise that involves medical or recreational marijuana is incompatible with the obligation to follow the law under California Code of Judicial Ethics.

Medical marijuana remains the safest investment route — if you’re forced to choose one — so here’s a brief rundown of the cannabinoid-based drugs working their way through clinical and preclinical trials.

In Ohio, public universities have to test medical marijuana during the first year of the state’s program. Private laboratories are not allowed to do the testing. The law creates a practical problem. Universities do not necessarily want to risk losing federal funding for testing medical marijuana, which remains illegal under federal law.

A newly released survey from the independent Quinnipiac University really demonstrates just how strongly the American public wants to see marijuana legalized, and how certain they are that state’s rights should prevail.

A Duke doctor has refused to continue seeing a nine-year-old North Carolina girl because her family gives her cannabidiol oil to cope with a rare illnes. The nine-year-old, Mia Morley, has a medical condition called Lennox Gastaut Syndrome. Her father, Dylan Morley, said Dr. Muhammad Mikati’s decision was based upon the federal status of CBD oil, which is not FDA approved.

In a nationally broadcast interview on Feb. 26, 2017, Colorado Gov. John Hickenlooper said his state has sovereignty on matters of marijuana, despite the federal government’s anti-pot laws and the new attorney general’s stance as a weed opponent. Hickenlooper was a guest on NBC’s Meet the Press.

The newly formed House Cannabis Caucus, co-launched by Alaska Republican Congressman Don Young, responded Thursday to a statement from a White House spokesman about potentially increasing federal prosecution of recreational smokers.

Jeff Sessions was sworn in as the new U.S. Attorney General Thursday. Sessions was confirmed Wednesday with a 52-47 vote, vowing in his subsequent speech to “defend the lawful orders” of President Donald Trump. The Attorney General is known for his criticism regarding the legalization of marijuana.

While there are a number of big issues and industries that could be impacted by the Gorsuch nomination (should he be confirmed), the marijuana industry and marijuana stocks have to be wondering how this nomination could impact them.

When a drug case fails in Colorado, law enforcement officers do not have to return confiscated marijuana because doing so would be a violation of federal law, the Colorado Supreme Court ruled on Jan. 23, 2017. The decision overruled the Colorado Court of Appeals, which had said Colorado Springs police must return marijuana to Robert Crouse, who was arrested on drug charges on May 5, 2011.

Sales in the legal marijuana industry are skyrocketing, which is why Money Morning created a list of the top marijuana stocks to watch in 2017. But because marijuana is still illegal under federal law, and many of the marijuana stocks on the market are so volatile, this isn’t a list of recommendations. Rather, it’s a list of marijuana stocks they are watching closely in 2017.

The state of New York allows five companies to dispense medical marijuana to qualified patients, but most hospitals receive federal funds, so they cannot allow patients to use pot medicinally, according to an article in the Times Herald-Record of Middletown, N.Y. While several states have approved marijuana for medical or adult use, it remains illegal under federal law.

Shares of industrial warehouse companies such as Prologis Inc, Rexford Industrial Realty Inc and Terreno Realty Corp that have significant exposure to the California market should benefit even if they do not lease to marijuana companies directly, fund managers and analysts say.

“Look, I’ve been very clear about my belief that we should try to discourage substance abuse,” Obama said. “And I am not somebody who believes that legalization is a panacea. But I do believe that treating this as a public-health issue, the same way we do with cigarettes or alcohol, is the much smarter way to deal with it.”

An audit of the U.S. Postal Service calls for new policies to secure marijuana found in the mail. The audit, finished in October 2016, was based upon visits to seven USPS facilities earlier in the year. It found packages containing marijuana in places like an unlocked cage, an unlocked office and on an unguarded table.

Dixie Brands, a company in Denver that creates drinks and other products using marijuana, is aiming to navigate those hurdles and become one of the first companies in the industry to build a national presence.

The marijuana industry got a boost on election night. Voters in California, Nevada and Massachusetts approved measures to legalize recreational pot. Campaigns spent millions to support or oppose the effort.

The prospect for a market of such scale is adding urgency to calls for a national approach to marijuana that expands banking options. Law enforcement and Federal Reserve officials have expressed concern about the fraud and crime associated with un-bankable cash.

MJINews was started to aggregate, report and opine on various ways to make money in the legal marijuana industry. While medical marijuana has been legal in many states for years, its legalization for recreational use in Colorado and Washington in 2014 has catapulted the entire subject to new heights.
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